Celesio and the Russian pharmaceutical holding Protek intend a close
Celesio and Protek Group agree to negotiations regarding a majority
stake in Protek Group
Stuttgart (Germany)/Moscow (Russia), 15 October 2007 --- Celesio,
leading European distributor of pharmaceuticals and pharmacy
operator, and the Protek Holding, comprising of the leading
pharmaceutical distributor in Russia, a retail pharmacy operator and
pharmaceutical manufacturing, are planning a close business
cooperation and have agreed to exclusive negotiations regarding a
multi-level acquisition of a majority stake by Celesio in the Protek
The extent of the planned transaction has not been diverged.
Negotiations should be completed by mid December 2007.
CV Protek is the leading distribution company in the Russian
pharmaceutical market with a market share of approx. 24% and a
turnover of 2.2 billion US $ in 2006. CV Protek is the only
pharmaceutical distribution company that covers almost all the
Russian territory. Protek Holding also owns the second largest
pharmacy chain in Russia with approx. 630 pharmacies. Last year the
pharmacy chain achieved a turnover of around 250 million US $. The
holding also owns a production company for the packing of solid
pharmaceuticals and manufacturing and bottling of liquid
"We believe that the Russian economic environment in general, the
pharmaceutical market in particular and especially Protek are great
and attractive opportunities for Celesio", said Fritz Oesterle,
Chairman of the Celesio Board. "We will support the existing strong
retail and wholesale activities and the further development of the
Protek Group as the leading Russian pharmaceutical holding".
Vadim Yakunin, CEO of Protek said: "We welcome Celesio as an
experienced strategic Partner for a long term collaboration. With
Celesio we expect to profit from synergy effects and to facilitate
the expansion of our activities. This will lead to an improvement of
our position as a strong company in the Russian pharmaceutical
Fritz Oesterle, CEO of Celesio, emphasised the importance of the
cooperation as being "a significant and strategic step for Celesio in
an interesting and challenging growth market".
The Russian market belongs to one of the strongest growing health
markets in the world. Within the next few years the pharmaceutical
market is expected to expand by around 20% per year.
Important influencing factors for this expected high growth rate in
the pharmaceutical market include the government's systematic
development of the health system, the general increase in the level
of income and the predicted increase of average life expectancy of
the Russian population.
About Celesio Group:
In 2006 Celesio generated 21.6 billion euros revenue. More than
36,000 people work for the company. Celesio operates in 16 countries.
The three business divisions Wholesale, Pharmacies and Solutions
cover the whole spectrum of pharmaceutical distribution and services.
In Wholesale 135 branches bring medicines to pharmacies about 100,000
times every day. About 2,100 pharmacies serve each day more than
500,000 customers. The Solutions division offers pharmaceutical
manufacturers logistics and transportation services und supports them
with sales and marketing.
About Protek Group:
Protek Group is a vertical integrated pharmaceutical holding that
combines distribution (including drug import and pre-wholesale),
retail pharmacy, packaging, contract manufacturing and contract sales
Protek Group is the leading Russian pharmaceutical wholesaler and the
number 2 player in the Russian retail pharmacy market with the Rigla
pharmacy chain (634 stores on 31/12/2006 including the acquired O3
chain). Protek Group generated a revenue of 2.4 billion US $ in 2006,
about 12.000 people work for the Group.
Rainer Berghausen, Celesio AG, +49 (0)711.5001-549
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